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End Results

SeaWave Introduces Integrator 3.0i

SeaWave LLC, a wireless communications company serving the maritime industry, is proud to announce its most recent addition to the Integrator product line, the Integrator 3.0i. The Integrator 3.0i features a built-in Iridium voice and data modem that allows any vessel to combine Integrator’s Least Cost Routing and SeaWave’s signature Throughput Technology with the low cost service fees of the Iridium constellation creating a low cost, highly available communications system. The Integrator 3.0i’s state-of-the-art technology may be installed as a stand alone system or combined to leverage your customer’s existing communications system into one least cost routing network. The end result is the most powerful and affordable communication service available.


U.S. Navy Gives Lockheed Martin the Green Light

The U.S. Navy has given its final approval for Lockheed Martin to proceed with the integration and shipboard installation of the world's first, fully-open architecture Aegis weapon system for a major surface warship. Aegis Open Architecture will be installed in the cruiser USS Bunker Hill (CG 52) during its Depot Modernization Period (DMP), scheduled to commence in February 2008. Aegis Open Architecture will allow the Navy to stay on technology's


Shedding the Subsea Offshore LITE

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The Louisiana Immersive Technologies Enterprise (LITE) and Global Industries partnered to share LITE visualization technology and high performance computing capabilities with oil and gas industry leaders at OTC in Houston. “Our hosts for OTC, Global Industries, gave us the opportunity to share our exciting visualization technologies with leaders in the oil and gas industry. Through onsite simulations we developed especially for the conference


Bioremediation Products Demonstrated to USCG

The U.S. Coast Guard recently received a demonstration of two Spillaway brand bio-remediation products, which contain live bacteria or spores that "eat" oil and fuel. Spillaway products are distributed by MEM International. Bio-remediation uses naturally occurring microorganisms to degrade harmful chemicals into non-toxic compounds. Microorganisms break down a wide variety of organic compounds that are found in nature to obtain energy for their growth


Supply and Demand: Asia-Med

Sources: Drewry Maritime Research; World Container Index assessed by Drewry

Asia/Med peak season started badly as cargo growth from Asia to the Mediterranean was poor in June, which is an ominous sign for the rest of this year’s peak season. Containerized exports from Asia to the Mediterranean rose by only 1% between May and June, up to 415,000,000 teu, which does not auger well for the rest of the peak season. As the market is partly driven by tourism, much has to be in place before the end of August


Record Volumes at Port Metro Vancouver

Photo: Port Metro Vancouver

Canada's largest and most diverse port has released its 2013 year-end results showing continued growth, including a repeat of record volumes in the container and bulk sectors. In 2013, Port Metro Vancouver also advanced several ongoing capacity building infrastructure projects, updated and extended environmental initiatives and participated in substantial community engagement activities. The 2013 year-end statistics report shows that Port Metro Vancouver handled 135 million metric tons of


TOTE Ships to Reduce Emissions by 90%

Nearly $1.5m in grant money recently awarded to the Port of Tacoma will empower Totem Ocean Trailer Express, Inc. (TOTE) to reduce the particulate matter and greenhouse gas emissions of its two Orca Class vessels by an estimated 90 percent while at TOTE’s Tacoma terminal. The emissions reduction will be the end result of the Port of Tacoma adding 600,000 volt electrical maritime power at the terminal and TOTE retrofitting both vessels with electrical power plug-ins


DNV GL Updates Offshore Class Rules

Kenneth Vareide, Director of Offshore Class at DNV GL

DNV’s Enhanced Classification Rules for mobile offshore units presented in May have been further improved through a process of industry consultation and feedback. The final versions of the related DNV Offshore Standards have been released and are available now. “Our aim has been to take class a new step forward by focusing on control, transparency and efficiency. In addition - the intention has been to ensure that the latest best practices and innovations are rapidly implemented


Insurance Industry Instability Triggers Upward Trend

By Trey Bryant Commercial Marine & Insurance Brokers Having been rather "soft," or in layman's terms "very competitive" for the last several years, the marine liability insurance market has begun what appears to be an upward trend in the pricing cycle over the last few months. There are, to be certain, several factors influencing this trend. The collapse of marine insurance giant Reliance Insurance Company and its subsidiaries has caused quite an uproar among various underwriters still


Excel Maritime Q4 & Year End Results

Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator of dry bulk carriers and a leading international provider of worldwide seaborne transportation services for dry bulk cargoes, announced its operating and financial results for the fourth quarter and year ended December 31, 2009. Fourth Quarter 2009 Highlights: -- Revenue from operations for the quarter amounted to $186.2 million as compared to $189.2 million in the fourth quarter of 2008.


Wärtsilä Reports Healthy Ship Power Sector in Q1 2014

Engine control room: Image courtesy of Carnival

In its interim financial report January to March 2014 Wärtsilä notes healthy development in ship power and services offsetting challenges in power generation markets. Highlights of period January-March 2014 Order intake decreased 16% to EUR 1,142 million (1,352)


Baker Hughes Announces Q2 Conference Call

Baker Hughes

  Baker Hughes Incorporated (NYSE: BHI) announced today that it has scheduled a conference call on Thursday, July 17, 2014, to discuss results for the second quarter 2014, ending June 30, 2014. The call will begin at 8:30 a.m. Eastern time


PPG Reports Record Q1 2014 Results

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  PPG Industries (NYSE:PPG) reported record first quarter 2014 net sales from continuing operations of $3.6 billion, up $528 million, or 17 percent, versus the prior year. First quarter 2014 reported net income from continuing operations was $277 million, or $1.97 per diluted share


China Shipbuilder Rongsheng in 2013 Revenue Freefall

Cheng Quang: Chairman China Rongsheng

During the year ended 31, December 2013 China Rongsheng, the largest non-state-owned shipbuilder in the PRC, reports that revenue of the Company was RmB1,343.6 million, a decrease of 83.1% from RmB7,956.3 million for the year ended 31 december 2012. Excerpts from the report follow:


Keppel Q1 Profits Dip Slightly

Maersk Intrepid was delivered by Keppel in Q1 2014 (Photo courtesy Maersk)

The Keppel Corporation released its limited unaudited results for the first quarter ending March31, 2014, reporting a 5% decrease in net profits to S$339 million compared to Q1 2013's S$357 million, though the company attributed the decline to one-off gains from the reversal of provision from the


ISC Expects Faltering Q1 2014 Financial Results

ISC Jones Act vessel: Photo courtesy of ISC

International Shipholding Corporation (ISC) provides preliminary guidance for first quarter 2014 results and announces timing of earnings release and conference call. The company says that it expects to report a first quarter net loss, before Preferred Dividends, in the range of $3


Bioremediation Goes Mainstream

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A reliable solution for response and prevention that can save money, time and regulatory aggravation is here. The threat of oil pollution has long been a problem in the shipping community. You don’t have to look too far to review the myriad of oil spills that have plagued the industry


Australian LNG investment is at risk, but not as much as feared

The Australian oil and gas industry is telling everybody that a second wave of investment in liquefied natural gas (LNG) plants is at risk unless labour and regulatory costs are cut. The companies are unlikely to get all that they want. In fact they may not get very much at all out of the


Stolt-Nielsen Reports "Disappointing" Q1 Results

Photo: Stolt-Nielsen

Stolt-Nielsen Limited today reported unaudited results for the first quarter ended February 28, 2014, which included lower cargo volumes and down profits in most markets. Net profit attributable to shareholders in the first quarter was $18.6 million, with revenue of $516


Wilh.Willhelmsen Holdings Report 2013 Profit Slide

Image courtesy of WWH

The Directors' report 2013 (extracted here) states that shipowners & technical services firm Wilh. Wilhelmsen Holding group (WWH) delivered lower results for 2013 when compared with a very strong 2012. The fallback in results was due to a 7% reduction in shipping volumes and substantial sales


Rickmers Maritime Report Fair Sailing in 2013

Chairman (L) & CEO: Image Rickmers

In a letter to unitholders introducing its 2013 financial results, the chairman and the CEO of Rickmers Maritime, state that its commitment to long-term, fixed-rate container ship time charter agreements has provided insulation from the continued pressure on time charter rates


Conrad Industries 2013 Profit Slip Ameliorated by New Business

Image courtesy of Conrad Industries

Morgan City, Louisiana, shipbuilder and ship repairer Conrad Industries, has announced its fourth quarter and twelve months 2013 financial result, adding that it has acquired new business during the first quarter of 2014 totalling $67.3 million. Q4 2013


CMA CGM Reports Solid Performance in 2013

Photo: CMA CGM

The Board of Directors of France’s CMA CGM, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the year ended December 31, 2013.


MHI Reports $586M Loss on Cruise Ship Builds

Pier Luigi Foschi, Chairman & CEO of Costa Crociere, (center) and Hisashi Hara, Director, Executive Vice President and General Manager of Shipbuilding & Ocean Development business of MHI (second from right) sign the contract in 2011.

Mitsubishi Heavy Industries, Ltd. (MHI) booked an extraordinary loss of approximately 60 billion yen (roughly $586 million USD) on the build of two cruise ships as a loss provision related to the construction work in its consolidated financial results for fiscal year (FY) 2013 (ending March 31


Topaz Revenue up 22%

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Topaz Energy and Marine, a offshore support vessel company, announced the results of its subsidiary Nico Middle East Ltd. for the 12 months ended December 31, 2013. The period has seen continued strong and profitable growth across the group’s activities with revenues up 22% and EBITDA up 17%


 
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